USD

FX News

AUD/USD Transfer

The Australian Dollar (AUD) fell to a 9-week low against the US Dollar (USD) Thursday extending recent losses to 0.6510. The US 10-year treasury bond yield was up 11 points to 4.19% and nears the October 2022 high. This in turn has seen a selloff in equity markets in August with the capacity to deepen. Not good for risk currencies in the near to medium term. Earlier the Reserve Bank of Australia (RBA) left interest rates on hold Tuesday at 4.10% the central bank suggesting they weren’t done yet dependent on incoming data, the AUD backtracking post the release. Non-Farm Payroll tonight with expectation of a mixed result and a slowdown of jobs data.

The current interbank midrate is: AUDUSD 0.6557

The interbank range this week has been: AUDUSD 0.6514- 0.6739

FX News

Key Points This Week

FX Update

Key Points:

Australian Manufacturing in July 49.6 vs 48.2 expected, with pressures over the past few months easing.

NZ Building Permits for June +3.5% m/m prior -2.2% which is positive, however the number is still down 20% from the June 22 figure.

Chinese media are taking pot shots at Australia again warning of tight ties with the US after the two countries expand military operations together.

US earnings season continues this week with Apple, Amazon and Uber up this week.

German Retail Sales -0.8% vs 0.2% expected in June highlighting poor consumer spending.

July Chinese manufacturing data index (49.3) remains in contraction- the 4th straight month.

The Japanese Yen (JPY) is the strongest performer over the month of July with the US Dollar (USD) the worst performer.